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The global inboard engines market is poised for growth despite recent disruptions from the Russia-Ukraine war. This blog explores the market’s projected expansion, its resilience in the face of economic challenges, profiles key market players, and highlights the trending approach of product innovation to fuel its growth.

Steady Course Ahead

• The global inboard engines market is set to grow from $1.21 billion in 2022 to $1.32 billion in 2023, showcasing a robust compound annual growth rate (CAGR) of 8.6%.
• Beyond 2023, the market’s voyage remains promising, with a forecasted size of $1.75 billion by 2027, marked by a CAGR of 7.4%.

Navigating Turbulent Waters

• The Russia-Ukraine war has disrupted global economic recovery efforts post-COVID-19.
• This ongoing conflict has sparked economic sanctions on various countries, causing a surge in commodity prices, and leading to supply chain disruptions.
• Inflation has rippled across the global markets, affecting various industries and services.

Charting a Course for Recreational Boating

• The upsurge in recreational boating activities is expected to steer the inboard engine market towards further growth.
• Recreational activities involving bodies of water rely on inboard engines to provide power and propulsion for boats and watercraft.
• In May 2023, the National Marine Manufacturers Association reported a 36% increase in annual economic activity for recreational boating, reaching $230 billion. The industry also witnessed a 14% rise in jobs, totaling 812,000 in 2023.

Market Players at the Helm

• Major players in the inboard engines market include industry giants such as Honda Motor Co Ltd., Caterpillar Inc., and John Deere Power Systems, among others.
• These players are instrumental in driving the market forward, offering a range of products to cater to the increasing demand for inboard engines.

Innovation: The Fuel for Growth

• Product innovation is a prominent trend gaining traction in the inboard engines market.
• Leading companies are constantly developing innovative products to maintain their competitive edge and meet evolving consumer demands.

Pioneering the Way

• In June 2021, Volvo Penta, a Sweden-based engine manufacturing company, introduced the D13 Inboard engine, featuring an in-line 6-cylinder and a high-pressure unit injector system.
• This engine is characterized by a robust design and construction, boasting a stiff cast-iron cylinder block and cylinder head for enhanced reliability and long-term endurance.
• The market is witnessing the advent of products that not only meet current requirements but also prepare for future needs.

Market Segmentation

The global inboard engines market can be segmented into various key categories:

1. By Power Source
   • Diesel
   • Electric
   • Gasoline
   • Other Power Sources
2. By Power
   • Low
   • Medium
   • High
3. By Ignition
   • Electric
   • Manual
4. By Engine
   • IC Engine
   • Electric Engine
5. By Application
   • Commercial
   • Boating
   • Others Applications

Global Regional Trends

• In 2022, Asia-Pacific took the lead as the largest region in the inboard engines market, demonstrating a thriving market for these engines.
• Moving forward, Asia-Pacific is anticipated to be the fastest-growing region in the forecast period, indicating a promising journey for the market.

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https://www.thebusinessresearchcompany.com/report/inboard-engines-global-market-report

The Inboard Engines Global Market Report 2023  provides an overview of the inboard engines market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The inboard engines market forecast analyzes inboard engines market size, inboard engines market share, leading competitor and their market positions.

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